http://www.nytimes.com/2008/12/18/business/18pay…
Mr. Kim’s colleagues, not only at his level, but far down the ranks, also pocketed large paychecks. In all, Merrill handed out $5 billion to $6 billion in bonuses that year. A 20-something analyst with a base salary of $130,000 collected a bonus of $250,000. And a 30-something trader with a $180,000 salary got $5 million.
A 20 something analyst got a total comp of 380,000?? NY Times seems to be making some serious accusations of over-compensation or ML was secretly doling out those kinds of numbers
If they meant 20-something associates, then its' possible (maybe you are a 3rd year associate or something). Numbers are a bit inflated. While I adore the Times, they still like to put in these 'human interest' type pieces to stir up controversy, even in the business section.
that is exactly what this piece is...everyone is all fired up about bonus levels and the whole "Main St vs. Wall St" is getting really old and annoying.
thats so funny, i read the same part a few times.
idk..maybe its more in some prop trading/quant role.
We're about to enter a Great Depression. Don't you want a president who's already dressed for it?
If you're 28, you could be a VP, so a 380 all in comp is nothing to write home about.
I graduated UG at 20.
Graduate UG by 20 Finish Analyst Stint by 22 Finish B-School by 24 3rd Year Associate by 27
I understand that if you're a 28 year old VP, but the article says a 20-something analyst.
Ohh... I didn't notice that.
They might just mean senior analyst in ER. They make it seem like its only for MBS S&T but this might not be the case.
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